While Canadian Solar reported strong module shipments and exceeded gross margin guidance, the company faced challenges with storage shipment delays, impacted revenue from delayed project sales, and rising supply chain costs. Additionally, profitability was affected by nonrecurring expenses. The commitment to sustainability and strong performance in North America are positive aspects, but the significant challenges balance the overall sentiment.

Company Guidance -

Q3 2025

During the Canadian Solar Second Quarter 2025 Earnings Conference Call, the company provided several key metrics and insights into their performance and future expectations. Canadian Solar delivered 7.9 gigawatts of modules, which was near the high end of their guidance, while storage shipments reached 2.2 gigawatt hours, falling below guidance due to tariff impacts. The company's revenue totaled $1.7 billion, which was affected by certain project sale delays. Despite this, they exceeded gross margin guidance, achieving 29.8%, driven by a higher mix of North American module shipments and robust storage performance. However, profitability was impacted by nonrecurring operating expenses, leading to a net income attributable to shareholders of $7 million or a net loss of 8¢ per diluted share. For the third quarter of 2025, Canadian Solar forecasts module volumes between 5 to 5.3 gigawatts and energy storage shipments between 2.1 to 2.3 gigawatt hours, with expected revenue ranging from $1.3 to $1.5 billion and gross margins between 14 to 16%. For the full year, they have narrowed their module volume guidance to 25 to 27 gigawatts and revised their revenue guidance to between $5.65 and $6.3 billion.

Module Shipments Near High End of Guidance

In Q2 2025, Canadian Solar delivered 7.9 gigawatts of modules, near the high end of their guidance.

Strong Gross Margin Performance

Gross margin exceeded guidance at 29.8%, driven by a higher mix of North America module shipments and robust storage performance.

Sustainability Achievements

In 2024, Canadian Solar reduced greenhouse gas emissions, energy, water, and waste intensities significantly compared to 2017 levels, and increased the percentage of recycled and reused waste to 94%.

Canadian Solar (CSIQ) Earnings, Revenues Date & History

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CSIQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 19, 2025	2025 (Q3)	-0.34 / -	-0.31	―	―	―
Aug 21, 2025	2025 (Q2)	1.34 / 0.11	0.02	435.00% (+0.09)
May 15, 2025	2025 (Q1)	-1.16 / -0.51	0.19	-366.84% (-0.70)
Mar 25, 2025	2024 (Q4)	-0.09 / 0.48	-0.02	2500.00% (+0.50)
Dec 05, 2024	2024 (Q3)	-0.21 / -0.31	0.32	-196.88% (-0.63)
Aug 22, 2024	2024 (Q2)	0.18 / 0.02	2.39	-99.16% (-2.37)
May 09, 2024	2024 (Q1)	>-0.01 / 0.19	1.19	-84.03% (-1.00)
Mar 14, 2024	2023 (Q4)	0.02 / -0.02	1.11	-101.80% (-1.13)
Nov 14, 2023	2023 (Q3)	0.82 / 0.32	1.12	-71.43% (-0.80)
Aug 22, 2023	2023 (Q2)	1.52 / 2.39	1.07	123.36% (+1.32)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CSIQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 21, 2025	$12.75	$10.38	-18.59%
May 15, 2025	$10.11	$10.69	+5.74%
Mar 25, 2025	$9.70	$9.76	+0.62%
Dec 05, 2024	$12.07	$11.46	-5.05%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.